Vermont STATE LAW

WAGE GARNISHMENT EXEMPTION:

– 75% of earnings above minimum wage or amount necessary to support family

MAXIMUM INTEREST RATE:

– Legal: 12%
– Judgment: 12%

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open Account (credit cards): 6 year
– Written Contract: 6 years
– Domestic Judgment: 8 years
– Foreign Judgment: 8 years

BAD CHECK LAW DAMAGES:

– Amount of check plus court costs, attorney's fees

tape recording

– Two party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(Vermont Statutes Annotated)

– Can use either the state exemptions below or the federal exemptions
– The State of Vermont has exempted the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property:

– Real property or mobile home to $75,000 [27–101]

Personal Property:

– Animals, appliances, clothing, furnishings, goods, books, crops and musical instruments up to $2,500 total [12–27–2740(5)]
– Books and tools of trade up to $5,000 [12–2740(2)]
– Freezer, heating unit, refrigerator, sewing machines, water heater, and stove, unlimited amount [12–2740(8)]
– Jewelry up to $500, but unlimited amount for wedding ring [12–2740(3) and (4)]
– Bank deposits up to $700 [12–2740(i)(15)]
– Health aids, unlimited amount [12–2740(17)]
– Motor vehicle up to $2,500 [12–2740(1)]
– 10 cords of firewood, or 5 tons of coal or 500 gallons of heating oil or 500 gallons of bottled gas [12–2740(9) and (10)]
– Crops and animals, three swarms of bees up to $5,000, and 10 chickens, 2 goats, 2 horses, 10 sheep, yoke of oxen or steers and enough feed to last through the winter [12–2740(6), (11) and (13)]
– Farm equipment consisting of two chains, two harnesses, two halters and plow and yoke [12–2740(14)]
– Lost future earnings, unlimited amount [12–2740(19)(l)]
– Personal injury recoveries and wrongful death recoveries, unlimited amount [12–2740(19)(F) and (G)

Insurance / Annuities:

– Fraternal society benefits, unlimited amount [8–4478]
– Annuity contract benefits up to $350 per month [8–3709]
– Group life or health benefits, unlimited amount [8–3708]
– Life insurance proceeds if beneficiary is not the insured, unlimited amount [8–3706]
– Supplemental disability benefits, unlimited amount [8–3707]
– Life insurance proceeds, unlimited amount [12–2740(19)(H)]
– Life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [8–3705]
– Health benefits up to $200 per month [8–4086]
– Disability or illness benefits, amount needed for support [12–2740(19)(C)]
– Unmatured life insurance contract, unlimited amount [12–274(18)]

Pensions / Retirement Plans:

– Municipal employees, unlimited amount [24–5066]
– IRAs, Keoghs to $10,000 [12–2740(6)]
– State employees, unlimited amount [3–476]
– Teachers, unlimited amount [16–1946]
– Any pensions, unlimited amount [12–2740(19)(j)]

Public Benefits / Entitlements:

– Social Security, amount needed for support [12–2740(19)(A)]
– Unemployment compensation, unlimited amount [21–1367]
– Crime victims compensation, amount needed for support [12–2740(19)(E); veterans benefits, amount needed for support [12–2740(19)(B)]
– Workers compensation, unlimited amount [21–681]
– Aid to aged, blind, disabled and families with dependent children and general assistance, unlimited amount [33–124]

Wages:

– 75% of earned but unpaid wages, but unlimited amount if debtor received welfare within two months of filing bankruptcy [12–3170]

Miscellaneous:

– Alimony or child support, amount needed for support [12–2740(19)(D)]
– Business partnership property, unlimited amount [11–1282]
– Any property up to $400 [12–2740(7)]